Price tag on Olympic venues $42.8 million in 2005 

VANOC spent $11 million-plus on local projects

The Vancouver Organizing Committee for the 2010 Winter Games spent $11.1 million this year on site preparation for the Sliding and Nordic Centres.

Whistler-Blackcomb also received $22,476 as preparations began to host the alpine events in 2010.

And VANOC provided a $30 million advance to the City of Richmond for the construction of the speed skating oval.

Another $47,712 went to Cypress Mountain as it starts its preparation for freestyle skiing and snowboarding events in 2010. The secondary ice hockey arena at the Pacific Coliseum also received $5,069, and there were general expenses of $281,687.

According to the just released audited financial statements for the period up to July 31, 2005, VANOC expenditures associated with venue development activities totaled $42.8 million.

Spending on human resources rose to $9.7 million from $2.3 million the previous year. Staff has risen to 130 with the organization.

And spending on marketing and communications rose to $6.2 million, from $524,080 the previous year.

The RMOW also charged VANOC $116,919 for consultants and contractors on secondment. The City of Vancouver charged $44,719.

In fiscal year 2005 the federal government contributed $3.7 million toward construction while B.C. contributed $30 million, which went into a trust for the Vancouver athletes village. Operating expenses are covered by lines of credit set up by VANOC with a bank.

The IOC has also contributed $6.3 million as an advance on broadcast revenues to be paid to the organizing committee between now and 2010.

“We feel that our achievements and our financial results over the year reflect on how well we have worked together,” said John Furlong, VANOC chief executive officer.

“Our team continues to grow as we add staff and sponsors and our venues are beginning to take shape.”

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